Larry Summers Was a Total Financial Screw Up as President of Harvard

Economic Policy Journal ^ | 11/17/09 | Robert Wenzel

[FromLori]

As vanishing credit spurred the government-led rescue of dozens of financial institutions, Harvard was so strapped for cash that it asked Massachusetts for fast-track approval to borrow $2.5 billion. Almost $500 million was used within days to exit agreements known as interest-rate swaps that Harvard had entered to finance expansion in Allston, across the Charles River from its main campus in Cambridge, Massachusetts.

[Thermalseeker]

Doesn’t seem like he’s gotten any smarter since he joined Obamalamadingdong’s legions.....

[FromLori]

ping

some more on site that are good

The Panic Over the Soaring Monetary Base Was a Bernanke Bluff

http://www.economicpolicyjournal.com/2009/12/why-are-banks-holding-so-many-excess.html

Finance Execs Don’t See U.S. Companies Hiring Until 2011

http://www.economicpolicyjournal.com/2009/12/finance-pros-dont-see-us-companies.html

A Krugman Trifecta of Errors

http://www.economicpolicyjournal.com/2009/12/krugman-trifecta-of-errors.html

Obviously Larry Kudlow Hasn’t Read the NY Fed Report on the Excess Reserves

http://www.economicpolicyjournal.com/2009/12/obviously-larry-kudlow-hasnt-read-ny.html

[FromLori]

lol true

[rlmorel]

When he got sacked by the PC people for his comments about women and science, I felt a little bad for him because I knew next to nothing about him.

Now that I have learned who he is and what he stands for, I look at that now with a sense of grim satisfaction.

Seeing liberals get hoisted on their own petard when they get skewered by political correctness is just...rich.

Unfortunately, this loser is at the top levels of our government.

Great.

[lesko]

I think Harvard is more than just a financial screw-up.

[Incorrigible]

Huh? Don’t they have any women who can do math up at Harvard?

[AmishDude]

And yet he's an economist.

It's like liberal economists can't even do what they're an expert in. Fascinating.

[RckyRaCoCo]

The criminal mind works in mysterious ways.

[Carley]

Tee hee. How would Summers know if any women can do math?

[Red Badger]

Doesn’t Hahvahd have to largest alumni funded trust in the world?...........

[rlmorel]

ROTFLMAO! Good point...:)

We already know he is a dummy...I think Rush said Summers was on one Sunday morning talk show saying the recession was over, and one of Obama’s other top financial advisors was on a different channel at the same time saying “No way the recession is over...”

LOL...”There is only room for ONE of you under the bus today...DEATH MATCH!”

[Mobties]

Q: Doesn’t Hahvahd have to largest alumni funded trust in the world?...........

A: If it does, then the others must have been pretty badly managed. too. Quoting from the article:

“Harvard not only lost money on the swaps last year. The value of its endowment tumbled a record 30 percent to $26 billion from its peak of $36.9 billion in June 2008, and its cash account lost $1.8 billion, according to Harvard’s most recent annual report.”

One wonders what campus building or facility Harvard will name for Larry Summers. I’m thinking “septic tank”.

[geezerwheezer]

The Harvard Board must be relying on the Harvard School of Government's advice to lose as much money as they have lost, or perhaps Barney Franks has been consulting with them. What a bunch of dumba$$e$ at a supposedly “smart” school! My Dad always told me that “if you have four dollars and spend five, then the last thing you will need is a wallet to carry your money!” Too bad they never got to know my Dad.

[FromLori]

He was obviously a wise man how profound that statement is.

[Red Badger]

One wonders what campus building or facility Harvard will name for Larry Summers. I’m thinking “septic tank”

Or a new "green" outhouse..................